Downtown Program Aims to Fill Vacant Storefronts with Small Businesses and Artists
Austin’s Vacant Storefronts Get New Lease on Life
As part of an innovative initiative in downtown Austin, the Downtown Austin Alliance (DAA) seeks to reduce the number of vacant storefronts by filling them with local entrepreneurs, small businesses, and artists. The move comes in response to the rising vacancy rates in the downtown area, where approximately 12% of storefronts remained vacant in 2023, a rise from the 10% vacancy rate recorded a year prior.
Activating Empty Spaces with Potential
Jenell Moffett, Chief Impact Officer for DAA, stresses the urgent need to enliven these vacant spaces during the interim period before long-term tenants occupy them. The program seeks to diversify business opportunities in the area by providing affordable and flexible space for pop-up retail shops, food and beverage mini-markets, art and cultural installations, collaborative co-working spaces, private event venues, music features, and community workshops.
Shaping the Local Economic Landscape
The affordability of the program remains a top priority. Varying costs come with deep discounts, and fees are kept minimal. For example, a participating 501c3 nonprofit would pay $250 per day with a refundable $150 deposit, while for-profit applicants would pay $350 per day with an equally refundable $150 deposit.
Local Artists Reap Benefits
The Foxtones, a local R&B funk fusion band, has already benefited from the program. Kimberly Chung, band manager for the group, expresses gratitude for the support and visibility their performances have garnered through the initiative. Chung stated that these kinds of programs are essential to preserve the vibe that makes Austin special.
Inspired by Successful Initiatives Elsewhere
Similar programs have improved the downtown areas in other cities, such as Seattle, Washington. Launched in response to the pandemic, “Seattle Restored” gives artists and entrepreneurs the opportunity to experience having a brick-and-mortar space. Andrea Porter, Program Director for Seattle Restored, shares the significant changes they have witnessed. From the 120 participants that used the 53 spaces made available downtown, 11 went on to secure long-term leases. This initiative is changing the landscape of downtown Seattle and presents a promising path for Austin to follow.
Conclusion
By helping to stimulate economic activity and culture, initiatives, such as the DAA’s Downtown Austin Space Activation program, could be instrumental in reviving and energizing regions affected by storefront vacancies. Not only does it offer a respite for property owners and a boost to businesses and artists, but it also potentially enhances the city’s aesthetic, making for a vibrant community everyone can enjoy.